The HDB Lease Buyback Plan is a governing administration initiative that permits aged HDB flat owners in Singapore to market a percentage of their flat's lease back to HDB to health supplement their retirement income. For being qualified, all entrepreneurs should be no less than sixty five years previous, along with the flat needs to have a minimum of 20 years of remaining lease. The gross regular monthly residence income for all owners need to not exceed $14,000. Beneath the scheme, HDB buys back again a part of the flat's lease, along with the proprietor is then supplied a fresh new lease of thirty decades, or nearly ninety five decades, depending on their age. The proceeds in the sale are used to leading up their CPF Retirement Account, which in turn offers a month-to-month earnings stream via CPF Lifestyle. The flat has to be owner-occupied buy back scheme hdb 210 24 for the period of The brand new lease. The scheme gives a lump sum income bonus of up to $twenty,000 for many who qualify, and it truly is an alternative choice to downgrading to some smaller flat to monetize their present residence.